The increase in the number of networked devices, sensors used in the IoT industry, the growing number of cyberspace users, and the intense competition of social networks to attract maximum users have led businesses to gain vast amounts of information.
Economics and technology experts describe data as the new oil, because in the new age it is information that increases the productivity of collections, boosts economic prosperity, and helps businesses produce products that meet the needs of users.
However, storing large volumes of information is of no benefit to businesses if they cannot analyze the data to make informed decisions. A business intelligence analyst is digging your new oil well!
Data that makes it smart!
Efforts to use data correctly to make important organizational decisions have caused the concept of business intelligence to be considered by organizations. Today, business intelligence or business intelligence has become a popular and important field in the business world.
Business Intelligence (BI) Business Intelligence is a technology-dependent process for analyzing data. Business intelligence helps managers of organizations identify the factors that make projects succeed or fail.
The Gartner Institute estimated the liquidity of the business intelligence market at $ 22.8 billion by 2020, yet the US Census Bureau predicts that demand for business intelligence analysts will grow by 21% between 2014 and 2024.
Who is a business intelligence analyst?
When you decide to use data to find answers to questions and identify emerging trends and use these analytics to make strategic decisions, you are actually looking to use business intelligence to advance business goals.
Business intelligence is a combination of modern science (artificial intelligence) and basic (mathematical) science that tries to show the right path to organizations by analyzing data. The analytical aspect of this science focuses on data management and statistical analysis.
However, a business intelligence analyst combines technical and non-technical skills to bridge the gap between managerial decisions and business analytics.
Based on this definition, business intelligence should be described as an attempt to understand previous decisions to identify current conditions and influence future decisions and processes to be implemented in the future.
Retailers use business intelligence to evaluate consumer behavior to find out what products customers are most likely to buy in the future.
In addition, business intelligence helps production units identify the number of products sold or left in stock based on a specific time period.
This has a huge advantage for production units, as it shows them what seasons of the year the demand for a particular product is greater or what products people are more likely to buy on special occasions.
This helps them take the products out of the warehouse and pack them before the special occasion arrives and wait for the customers to send the order.
It is not possible to do this process traditionally, because multiple metrics must be used to make the analysis closer to reality.
What business intelligence analysts do is use data and statistical analysis to develop predictable statistical models that lead to informed decisions.
In most cases, these experts analyze previous data to identify missing patterns. If you want to become a business intelligence analyst, you need to focus on learning key skills in this area.
These skills include the following:
- Descriptive analysis
- Predictive analysis
- Methods of data collection
- A / B test
- Correlation and causation
- Regression analysis
- Data visualization and interpretation
The ability to solve problems, think critically, and communicate with other stakeholders are other important skills that business intelligence analysts should have.
Fortunately, the job market for business intelligence analysts is not limited, and these people can work in important industries such as marketing, finance, or accounting.
You are five steps away from becoming a business intelligence analyst
The path to becoming a business intelligence analyst often begins with a bachelor’s degree in computer science, mathematics, statistics, economics, accounting, or related fields.
This job requires both groups of hard skills such as data modeling and statistical topics and soft skills such as problem formulation, identifying solutions to them, and constructive interaction with people.
Looking for a professional degree
Obtaining a professional degree that reflects your skills and expertise is a starting point for a career. Once you have your bachelor’s degree, you will need to attend computer science booths or online business analysis courses to learn more about how to analyze data.
If you can attend courses that provide a valid certification, you will have the opportunity to submit a resume to large organizations.
In addition, these courses can help you develop specific skills and how to apply standard business intelligence tools and data analysis techniques.
A business intelligence analyst has to use specialized tools to perform business activities.
So you have to think about learning Python, R, Hadoop, and SAS.
The CBIP Certified Business Intelligence Professional course is designed for professionals who want to increase their level of knowledge related to business data analysis.
The topics of this course help business intelligence analysts to get acquainted with the field of business intelligence and use the financial and human resources of the organization and use techniques and techniques of business intelligence to increase the quality of decisions and analyze a huge amount of data.
Applicants must have two years of full-time work experience in this field and at least a bachelor’s degree in one of the related fields before taking the above test.
Remember, getting a professional degree can increase your chances of finding the right job as a business intelligence analyst.
Apply for a job as a business intelligence analyst
To be able to perform a proper analysis, the business intelligence analyst collects and analyzes data related to the organization’s business transactions stored in databases along with information published by competitors through social networks or sites to determine the position of its airline company in the market.
Identify the goal and explain in what areas the organization has shortcomings compared to its competitors.
In most cases, business intelligence analysts interact with different departments and teams in an organization to implement a strategic plan.
Accordingly, most of their time is spent analyzing financial documents.
Given that most organizations are looking for work experience, it is best to start with a small company to gain basic skills and at the same time increase your knowledge of business analytics.
Boot camps are the best choice in this field because they work on practical projects while teaching theoretical topics so that scholars gain good practical experience.
Some organizations select these people as project managers due to the high capacity of business intelligence analysts. That’s why we suggest you start working in small companies or startups first to learn the basics of team interaction and data analysis.
An important point to note is how to prepare a resume that includes the skills and training you have learned.
In the resume you write, you should correctly mention the documents and projects that you have completed.
In a job interview, you should be prepared to answer specialized questions and generally explain to the interviewer how you are doing business analysis.
And In addition, as an analyst, you should show that you have no particular problem working with specialized and general tools and that you follow the news of the day related to your field of work. Some companies use case studies or pilot scenarios to gauge the applicant’s abilities.
There may not be a clear answer to some of the questions, but companies ask vague questions to assess the applicant’s situation in terms of formulating issues and offering creative solutions.
Learning is inexhaustible
As a business intelligence analyst, it is not a bad idea to increase your knowledge of programming languages and data mining tools. There are several online courses to learn new languages and keep your skills up to date.
Some tools are open source and others are so popular that there are many free resources for them. If you want to improve your technical skills and write a good resume, think about learning C #, Hadoop, Julia, MATLAB, Pendas, PowerBI, PyCharm, Python, SAS, SQL, and Tableau.
Given that different companies and industries use different programming languages, it is best not to limit your knowledge in this area to one programming language.
Business intelligence analyst career perspective
O * NET OnLine has clearly described the career prospects of business intelligence analysts. The institute predicts that this IT job position will grow by 6% between 2019 and 2029 and that nearly 3,600 new jobs will be created for these professionals in various industries each year.
Finally, it is worth noting that the average salary of a business intelligence analyst in 2019 in the United States was $ 94,000 per year.